ATLANTA, March 2, 2004 (PRIMEZONE) -- Revenue Technologies, the leader in Revenue and Price Management solutions, today announced that it has closed its third round of financing for $8.1 million. This round was led by Adams Capital Management, which is joined by current investors Cordova Ventures and Imlay Investments. The capital will be used to expand Revenue Technologies' sales and marketing efforts and fund new product extensions.
"Over the last 18 months, pricing management has become a strategic initiative at a growing number of Global 2000 companies as a way to drive better financial performance and bottom line results. Revenue Technologies' software solution, domain knowledge, and best practices in the automotive, basic materials and high tech manufacturing industries has clearly set them apart from the competition," said Martin Neath, General Partner at Adams Capital Management. "Pricing is unique not only to each industry, but to each company. Revenue Technologies' targeted solutions have resulted in millions of dollars in margin contribution for customers like Motorola, ArvinMeritor, and Royster-Clark."
Revenue Technologies delivers superior technology coupled with deep domain expertise to help manufacturers improve profitability through more effective price management. Through the advanced capabilities of the MarketPrice(tm) suite, companies manage price variability, identify hidden pricing opportunities, determine optimal list prices, and precisely execute segmentation strategies.
"In 2003, we focused on delivering to our lighthouse customers," said Ron Farmer, CEO of Revenue Technologies. "Our success there coupled with this latest round of funding further validates our strategy of delivering competitive advantage through best practice software and domain pricing experts."
About Adams Capital
Adams Capital Management, Inc., a national venture capital firm with $700 million in capital under management, has offices in Austin, Boston, Palo Alto and Pittsburgh. Adams Capital invests in early-stage information technology and telecommunications companies addressing compelling market opportunities created by discontinuities in industry standards, regulations, technology convergence and distribution channels.
About Cordova Ventures
Cordova was founded in 1989, and currently has approximately $200 million under management. Cordova invests primarily in privately held companies at varying stages of development, including seed and start-up, early-stage and later-stage growth. The firm invests primarily in the Southeast in a wide variety of industries, including, information technology, communications, industrial technologies, financial services, healthcare services and life sciences and real estate development equity financing.
About Imlay Investments
Founded by John P. Imlay Jr., former CEO of Dun & Bradstreet Software, Imlay Investments has acted as an angel investor in several successful Atlanta start-up companies.
About Revenue Technologies
Established in 1995 and headquartered in Atlanta, Revenue Technologies Corporation is the leading provider of Revenue and Price Management solutions, helping businesses significantly improve profitability through more effective price management. Through the use of leading edge pricing capabilities inside the MarketPrice(tm) suite, companies such as UPS, Motorola, Royster-Clark, and ArvinMeritor have maximized revenue and margins by determining optimal list prices, scientifically diagnosing customer pricing opportunities, precisely executing segmentation by pushing price strategies to the front line, and controlling price variability via customer and product guidelines.